consternation and a bit of fear, from Main Street to Wall Street according to
an article from the Associated Press on Yahoo Finance.
In an announcement by the Commerce Department today, retail
sales showed their biggest drop in 8 months. From department stores to discounters (like Wal-mart), from
gas stations to teen retailers, most saw declines in May. Target eeked out a
small increase, but it was lower than they had hoped according to the article.
Troubles in Europe caused the Dow Jones Industrial Average
to fall nearly 8% in May, the worst May since 1940.
So what does all this mean? One month does not make a trend. A rebound in June will show
that May was just a blip, caused by a confluence of issues. However, if June
numbers fall as well, we may see the beginning of a trend wherer the recovery
slows, and economists and retailers alike will lower their projections for
A large number of entrepreneurial retailers I work with are
experiencing similar issues, with the year starting out strong, and then
seeming to putter out in April and May. The biggest issues they’re facing is a
lack of traffic, as if customers just stopped shopping. From apparel to home goods, and the
fact that all types of national retailers are experiencing the same issues means
that no one seems to be immune.
What are your sales trends showing for your type of retail business
and how are you countering slowing sales?
For more great retail tips, trends and news, follow me on